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Acknowledgements Table of Contents, This work is made possible because of the generous support from A special thank you to all of the women entrepreneurs who shared. our sponsors and partners We thank BMO for their continued candidly their incredible stories of success failure and resilience We. sponsorship and belief in the importance of this study and the BMO only reflect some of what we heard and will carry the rest with us to. team for all of their efforts to aid in the completion of it continue to inspire our work. Thank you to the Federal Government Departments of Innovation Thank you to the many leaders in in Canada s entrepreneurial. Science and Economic Development and Indigenous and Northern. Affairs Canada for their financial support and great interest in. ecosystem who joined us in Toronto for our roundtable discussion. to share wisdom experiences and expertise that helped shape our 03 About the authors. our work recommendations Thank you to Marika Buzza who organized our. We are grateful to the Carleton University Centre for Research and. interview schedule and took notes,05 Methodology, Education on Women and Work Advancing Women s Leadership Finally thank you to everyone who supported and encouraged us as. for both their financial and administrative support and to the Beacon we crossed the country in pursuit of our deeper understanding of. Agency for their many contributions women entrepreneurs and innovation 07 Executive summary. Thank you to BDC Futurpreneur Women s Enterprise Centres and. Startup Canada for their in kind support that included spaces across. the country promotion of our interview schedules to encourage 09 Summary of findings. participation and suggesting names of entrepreneurs to be included. 12 Recommendations,15 Literature review,23 What women entrepreneurs told us. 31 Survey and results,31 Conclusion,33 Bibliography. 39 Appendix A, Janice McDonald BA MA ICD D MFA with The Boys and Girls Club of Ottawa where she.
About the Authors Janice McDonald BA MA ICD D MFA is an. award winning serial entrepreneur trusted advisor,was chair of the marketing and communications. committee as well as a past director with The Royal. Ottawa Hospital Foundation She is a founding, strategist and inspiring speaker with expertise in the member of DIFD a youth driven initiative focused. music industry apparel accessories and start ups on raising awareness and inspiring conversations. in developing countries She is a sought after mentor WIT LA awarded her Global Trade Ambassador for about youth mental health Janice also is a committed. Clare Beckton BA LLB MPA, and coach and serves as a mentor in the WXN Canada in 2017 the first Canadian to receive it Janice mentor with WXN WCT Futurpreneur and EY s. Clare Beckton BA LLB Sask MPA Harvard is CWCT programs and has been a mentor for IWF represented Canada at the APEC Workshops in WABN global program for elite athletes. the author of Own it Your Success Your Future international s elite athlete program Vietnam in 2017 and presented on entrepreneurship. Janice is a sought after speaker on Leadership and. Your Life She is a sought after speaker consultant She has Leadership training from Harvard and. Clare served on the Queensway Carleton Hospital Entrepreneurship She is invited to speak around the. facilitator mentor and coach Clare is founding INSEAD and was appointed to Women s Leadership. board including as chair vice chair and chair of world regularly including at Microsoft at Silicon Valley. Executive Director of the Carleton University Board at Harvard Kennedy School Janice is the. the governance committee was a member of the Forum s Women in Tech Festival in 2017 Her TEDx. Centre for Women in Politics and Public Leadership Ambassador for Women Entrepreneurs for Startup. Canadian Task Force for Women s Business Growth talk has been viewed over 14 000 times and counting. now merged with the Centre for Research and Canada and will release her podcast for Women s. and the Canadian Board Diversity Council She also Entrepreneurs called THRIVE in 2018. Education on Women and Work where she leads She is an independent board director with Vista Radio. served as vice president for the Ontario college of. and facilitates cutting edge research initiatives and past member of the Rogers Radio advisory board for. Homeopaths WXN inducted Janice into the WXN Hall of Fame. women s leadership programs to advance women in eastern Ontario an advisor for Cornell Queens EMBA. in 2016 as Canada s Top 100 Most Powerful Women, leadership roles and acts as an advocate for advancing Clare has led delegations for Canada to the UN in program and she works with international executives. after winning four years in a row She was awarded, women s leadership She is a lawyer a former senior both New York and Geneva on Human Rights and on New Venture Management Consulting Projects.
executive in the Government of Canada including a World of Difference 100 Award in Washington. women s rights to the Women s Leadership Network She is an advisor for the Sprott School of Business at. roles as head of agency for Status of Women Canada from TIAW and a National Leadership Award from. of the Asia Pacific Economic Cooperation Forum and Carleton University and Co founder. and Assistant Deputy Attorney General Aboriginal CWC She also received WCT s Chairs Award of. to the Inter American Commission of Women www thisspaceworks com. Affairs Justice Canada and former professor of law Distinction in 2016 Janice has a BA Communications. at Dalhousie University Several recent high impact She has been twice recognized by WXN as one of Masters in Canadian Studies certification from The She is founder of The Beacon Agency It is a global. studies of the Centre with its partners include a Canada s 100 most powerful women along with other Canadian Institute for Conflict Resolution ICD D advisory firm that focuses on entrepreneurship. Force to Reckon With Women Entrepreneurship and recognition for her leadership from Canadian Women designation from Institute of Corporate Directors leadership and research Janice co authored a national. Risk and Women s Leadership Matters the impact of in Communications and Technology Women of and Masters in Fine Arts from King s College She is study on Women Entrepreneurs and Their Approach. Women s Leadership in the Canadian Public Service Influence Federated Press and WPN featured in Canada 150 Women a book released in to Risk with BMO and Carleton University. Clare Led the development of the Advancing Women 2017 on conversations with leaders champions and released in 2016. in Leadership program for the Centres and continues She blogs for the Huffington Post and is a sought after luminaries She was also featured in Your. speaker on multiple subjects including leadership Turn Powerful Thoughts from Today s Women Janice thebeaconagency ca. to facilitate in this highly acclaimed program, Policy development studies related to women s to the Next Twitter janicemcd. Clare taught law at Dalhousie University and entrepreneurship women in mining women s rights Instagram janicemcdonald. published a book The Media and the Law in Canada and freedoms and is a frequent media commentator Janice has many career achievements including driving Linkedin https www linkedin com in janice mcdon. and a number of articles on the Canadian Charter of who has presented at many conferences and events in the financial turnaround and re branding of Women ald icd d 19581a25. Rights and Freedoms She was widely recognized for Canada and abroad in Communications and Technology as Board chair. 2013 2015 She is currently a Board director with www Canada150women ca. her work including by the Supreme Court of Canada, Clare beckton carleton ca Futurpreneur Canada Ottawa Senators Foundation https www itsyourturn ca. respecting freedom of expression and equality, Twitter ownit clare and IWF Leadership Foundation board and past Chair. She is a recipient of a Fulbright scholarship and LinkedIn https ca linkedin com in clarebeckton of IWF Canada Ottawa Chapter She was a director. Littauer fellowship by Harvard for leadership and with Ashbury College and served as chair of the. contribution to Public Service studying at Harvard community engagement committee former director. Kennedy School of Government in 2004 2005,She was appointed to the Harvard women s. Leadership Board in 2008 is Director and Chair of, the Governance committee of Beechwood National Maude Marquis Bissonnette serving in the City of Gatineau Qu bec She chairs.
Cemetery a member of the governance committee of the Commission in Development of the territory. the IWF Canada board a member of UNICEF s 25th Maude Marquis Bissonnette holds a Bachelor in Housing and Environment She is also a member of. team working to advance women s maternal health Political Science from the Universit de Montr al the Commission of Economic development as well as. a Master in public administration M P A from the the Soci t de transport de l Outaouais STO She. cole nationale d administration publique NAP and is the member of one and is involved with a women. is currently a Ph D candidate at Carleton University community association. in public policies She is also a municipal councillor. Methodology Current policies and,discourse that equate. To ensure the most complete study of where and how women. entrepreneurs are innovating we used multiple tools as in our. previous study A Force to Reckon With Women Entrepreneurship. and Risk First we conducted a literature review using quantitative. analysis to assess the depth of existing knowledge Secondly using a. innovation solely, standard set of questions we did a qualitative analysis by interviewing. 146 women entrepreneurs in all industries across Canada including. 23 Indigenous women entrepreneurs Following these two activities. BMO Wealth Management performed a survey that yielded responses. with advances in, from over 1000 entrepreneurs which supported the findings from the. review and gave insights into similarities and differences between men. and women entrepreneurs Finally BMO with the Beacon Agency and. Carleton University hosted a roundtable in Toronto attended by over. 100 leaders including government officials industry entrepreneurs. technology exclude, women s organizations and academics Participants received the. findings and discussed nine questions key to the research Their. extremely valuable input helped to shape the final recommendations. much of women,entrepreneurs,innovations, Women entrepreneurs are innovating everywhere every day across multimillion dollar businesses including Indigenous women.
Canada Current policies and discourse that equate innovation solely entrepreneurs who have not received a lot of attention in the. with advances in technology exclude much of women entrepreneurs literature Those interviews showed us that women entrepreneurs. innovations The result is a lack of recognition of the significant are innovating in all sectors and in every aspect of their business and. contribution that women entrepreneurs make to Canada s innovation are very aware of the constant need to innovate to stay competitive. and a lack of access to funding to increase their innovation capacity and grow. and implementation This needs to change as women led businesses. today represent 50 of all new businesses BDC 2017 Among all From the interviews we found that innovations of women. small and medium sized businesses SMEs 47 are entirely or partly entrepreneurs are often inhibited by lack of access to capital for. owned by women Statistics Canada 2012 Businesses owned by startup and growth ageism as women tend to start a business in a. women entrepreneurs make significant contributions to the Canadian later stage of their life and age out of funding programs and sexism. economy Although women led businesses tend to be smaller than and harassment from investors and clients Funding opportunities. men led businesses in general they create more jobs Statistics do not always match women entrepreneurs goals as they were not. Canada 2012 and have higher survival rates Benavides Espinosa and available in their sectors or would not take into account their desire. Mohedano Suanes 2012 Statistics Canada 2012 to help their community by promoting local products for instance. Collaboration and partnerships are also key elements for women. Contrary to the current discourse around science and technology entrepreneurs Mainstream networks incubators and accelerators. and funding criteria innovation is much broader as defined by the are often not welcoming to women entrepreneurs yet networks. Organisation for Economic Co operation and Development OECD mentoring and growth opportunities are considered to be important. and accepted by Canada 2020 s work as the implementation to entrepreneurial success. of a new or significantly improved product good or service or. process a new marketing method or a new organizational method As for Indigenous women entrepreneurs the literature is not. in business practices workplace organization or external relations abundant In the interviews we found that Indigenous women. 2005 p 46 As a consequence an innovation can represent many entrepreneurs are also innovating in all aspects of their businesses. things in an organization However in Canada innovation is often They view collaboration as essential and want to support their. equated to goods rather than services and especially in science communities Indigenous women entrepreneurs face the same. team for all of their efforts to aid in the completion of it Thank you to the Federal Government Departments of Innovation Science and Economic Development and Indigenous and Northern Affairs Canada for their financial support and great interest in our work We are grateful to the Carleton University Centre for Research and Education on Women and Work Advancing Women s Leadership for both

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